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Schiff Pitchfork

BITCOIN (#BTC): Bulls are exhausted, $7K level is comingBitcoin analysis update is here. My outlook remains bearish. So, let me to explain to you why... > 4H = Bearish = BB narrow, price below Basis, one retest of the bottom of the channel. RSI decreasing, Level 38. MACD histogram bearish + bearish crossover. > 1D = Bearish = Since the Bitcoin was rejected by $9K level, it still decreases. BB's channels remains narrow, but Bitoin dropped below Basis line. Previous two candlestick shows rejection of this level. RSI going down and holds below Level 50. MACD histogram bearish. > 1W = Bearish = Doji closed the previous week and this week is directed by bears. Current week seems to be close by Candlestick closing below the previous candle's low. Previous market structure will be broken. That is bearish sign. RSI dropped below Level 70 and heads to the south. MACD histogram is bearish. OBV indicates decreasing buyers interests. > Summary = I'm looking forward to $7.0K - $7.2K
BITMEX:BTCUSD.PShort
by AsBobbyDigital
BTCUSD short term forecast, 15MPossible short term paths outlined on the chart using the Schiff pitchfork. Bitcoin temporarily lost momentum as evident by creating lower highs on the 15 minute chart. Currently there's a good chance we will drop into channel D and consolidate there before making a next move. If we break up through channel B resistance then this will show that BTC has regained strength and there will be a good chance we will break out of the pitchfork altogether to continue printing yearly highs.
COINBASE:BTCUSD
by gregb1
Reversal expected at Fib Time Zone, in other words very shortly!Good day Traders Using the $8500 July 2018 highs as a starting point (the peak before we broke market structure), you get interesting results if you use a schiff pitchfork to then connect the December 2018 lows to the recent $5975 peak for 2019. Using the same starting point, add Fib Time Zones connecting the December 18 lows, and we find anticpated areas of reversal based on elapsed time. As you can see we are right at the next fib time zone, so expecting a reversal very soon. If you then add a trendline from the ATH, a fib circle connecting the Dec 18 lows to the recent $5975 peak, and add a bar pattern from the July 2018 starting point, (same starting point we used for the pitchfork and initial fib time zone), you'll see that the forces seem to line up quite nicely. I'm expecting a resumption of the downtrend shortly, with our next capitulation event happening after retesting the ATH trendline resistance, as we break out of the 2.618 fib ring circle, and below our channel support. For a bottom target, by adding a fib retracement from the $8500 July 18 peak to the $3200 Dec 18 lows, I'm anticipating at least a 1.214 fib extension to around $1970 which coincides with our channel support and which coincides with our next fib time zone, making this the perfect reversal area. We should then consolidate along that support, until we breakout above the top pitchfork channel resistance, before breaking above the ATH trendline resistance and resuming the next bull run. Good luck and happy trading!
BITSTAMP:BTCUSDShort
by Corn_Reaper
5
Bitcoin's Final Bottom using Fib Circles and a Schiff PitchforkThis is probably not popular opinion but not long now before bitcoin’s descent back to $4.2k before final capitulation. This is evident using a fib circle connecting the swing low for 2015 to the 2017 ATH and a Schiff Pitchfork connecting the 2013 swing high to the 2015 swing low up to the 2017 ATH, to give us the bigger picture. Then for a comparative view of the current bear market, add another fib circle connecting the 2013 swing high to the lows reached just before breaking out of the 1.618 fib circle ring and the break of market structure in 2014, and then another fib circle connecting the 2017 ATH to the lows reached just before breaking out of the 1.618 fib circle ring and the break of market structure in 2018. Notice how price broke down from the median pitchfork channel support shortly after it broke out of the 2.618 fib circle ring, which resulted in the break of market structure and a 50% capitulation in both 2014 and in 2018, where recently price dropped to our next pitchfork support level at $3200. As you can see bitcoin found support at the same pitchfork support at the end of Jan 2019 before we had the current bull trap rally. Imo we still have 1 more capitulation to go where we will eventually find the bottom pitchfork channel support. In 2014, we had a 77% drop from the $680 high, which we reached before breaking market structure, to the 2015 swing low. Then shortly after breaking out of the 4.236 outer fib ring, we had our final bottoming descent. In 2018, a 77% drop from the $8500 high, which we reached before breaking market structure, gives us a bottom support level of around $2-$2.5k, which lines up nicely with our bottom pitchfork channel support. We have also just broken out of the 4.236 outer fib ring, so I'm expecting our final bottoming descent to begin soon. Once we have bottomed, I expect sideways consolidation until we break out from the larger 2.618 fib ring circle, where we should enter the next phase of the next bull cycle which will coincide with the 2020 bitcoin halving around May. Expecting a parabolic move to our $50k resistance once we break out of the larger outer 4.236 fib ring around July 2022. Good luck and happy trading!
BITSTAMP:BTCUSDShort
by Corn_Reaper
13
BTC:USD WXY Correction 2013-15 & 2017-19 ComparisonSummary: 2013-2015 and 2017-2019 bear markets show a similar WXY count supported by a Schiff Pitchfork lower warning line hit and Fib Retracements confluences. WXY Count & FIB Retracement: Measured from the A wave of the W count, both the W wave and Y wave extend 1.272 in 2013-15 Bear Market. Similarly, measured from the A wave, both the W wave and Y wave extend 1.618 in 2017-19 Bear Market. FIB Confluence: In the ABC correction for the Y wave count in 2013-15 Bear Market, wave B extends .50 Fib and bottoms at the .786 extension creating a confluence at the 1.618 retracement. Similarly, in the ABC correction for the Y wave count in 2017-19 Bear Market, wave B extends .50 Fib and bottoms at a 1 to 1 extension creating a confluence at the 1.618 retracement. Schiff Pitchfork: The 1.272 retracement creates a confluence with the Schiff Pitchfork lower warning line (two standard deviations away from the mean). Similarly, the 1.618 retracement creates a confluence with the Schiff Pitchfork lower warning line (two standard deviations away from the mean). Forecast: Sideways movement to test the median line. More sideways movement to break through the median line, test it and finally break through the upper warning line, test it, find support and confirm a Bull Market Run. Invalidation: A rejection by the Median Line in the Schiff Pitchfork or any of the standard deviation lines or price is unable to cross and find support above 6,400 and/or cannot find support at the 200 Week Moving average as it retests it and breaks 2018 December Lows will trigger an WXYXZ correction pattern.
BITSTAMP:BTCUSD
by tvlester
OK BTC we are all set !Fear has never ended in investors' heart as they've seen all of ups and downs of market. I believe that fear led us to yesterday's BTC crash. People saw a b little drop in the wave started. All of a sudden BTC dropped around 10 percent. Yet we found a good support near EMA 20 & 50 which show us a green light, a light through which we can see a way to 4220. There's always risk in markets so try to be calm and put your stops. Stops can be around 3680 which is critical pivot point. So a close (4H candle) below 3680 cause a catastrophe in BTC market.
BITSTAMP:BTCUSDLong
by Hamidkev3
Try to be Optimistic about your lovely coinsHello Folks Let's get to work directly.we're in a disappointing downtrend for more than a year. If you're still breathing in this market, you are the last soldiers who are brave enough to fight. my favorite target for Bitcoin is 38xx in coming days. Don't forget that we should break 3550 area (orange box) and 3685 (near MA 50) at first. the last soldiers of our army will be deadly injured in price of something less than 3220. So put your stop around the red box because staying alive is most important story of your life.
BITSTAMP:BTCUSD
by Hamidkev3
EURUSD Potenital Long SetupEURUSD is seemingly in an attractive spot for continuation players. There's a bullish harmonic pattern noticeable on 240 chart. It went through 61.80% pullback on its bullish swing after hitting the 150 day EMA and is now above 38.20% point of the pullback leg. Increased odds that this pair will try to climb towards the 61.80% point of the pullback leg, perhaps test the gap area around 1.1725. Short risk on EURUSD is the preferred choice at this point. Wider stops beneath the recent low of 1.1480, tighter stops beneath 1.1530 and 1R-2R targets ahead.
Long
by Zoen_Trieste
EURUSD Probable Demand area EURUSD is going through the expected reaction after touching the 150 day EMA. It is probable that bears will take profit at the triple bottom area near 1.1520 and aggressive bulls might join for a scalp taking this pair higher towards the 1.1650 area. Bears are still holding on to their positions, first signs of a minor reversal will appear in lower TFs. Buying around 1.1520 with stops below 1.1480 and looking for 1R-2R targets seems reasonable.
Long
by Zoen_Trieste